REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Reply
 
Thread Tools
Old 12-18-2014, 09:19 AM   #76
OMGWTFBBQ is a common word I say everyday
 
DragonChi's Avatar
 
Join Date: May 2002
Location: vancity
Posts: 5,262
Thanked 571 Times in 278 Posts
Correc me if I'm wrong. It's the Saudis and US creating the dip in oil prices?
Advertisement
__________________
DragonChi's BuySell rating
DragonChi is offline   Reply With Quote
Old 12-18-2014, 10:29 AM   #77
RS.net, where our google ads make absolutely no sense!
 
koukimonst3r's Avatar
 
Join Date: May 2007
Location: Surrey
Posts: 929
Thanked 222 Times in 62 Posts
It's apparently $66/barrel right now, lots of contractors getting laid off here at CNRL. It'll definitely be cheaper next year.
__________________
1989 240sx


Quote:
Originally Posted by Presto View Post
I went to Saskatchewan once. 30min is all I need to know that I don't want to go back there.
koukimonst3r is offline   Reply With Quote
Old 12-18-2014, 11:46 AM   #78
reads most threads with his pants around his ankles, especially in the Forced Induction forum.
 
Mr.HappySilp's Avatar
 
Join Date: Mar 2004
Location: Vancouver
Posts: 9,528
Thanked 1,659 Times in 843 Posts
Quote:
Originally Posted by godwin View Post
It is more like Saudi wants to pressure Iran and Qatar to fold.. and also make sure the tarsands and North Dakota crude is not economically viable (might not be a bad thing for us, at least it will get the environmentalists off our backs for a while).

Russia is just a side show. It is not even OPEC.

Either way, Russia is and will be the only economical LNG supplier to Europe (a lot of fracking projects in Europe turn up bubkuss) .. Europe right now just wants a regime change, because they know Russia holds them by the balls.
Russian ruble firms sharply as government pressures exporters | Reuters

hard to say what will happen next. But from what I read it seems Ruble have fallen over 50% since the beginning of this year?
Mr.HappySilp is offline   Reply With Quote
Old 12-18-2014, 12:21 PM   #79
Rs has made me the man i am today!
 
Traum's Avatar
 
Join Date: Aug 2007
Location: Paradise, BC
Posts: 3,100
Thanked 2,346 Times in 1,029 Posts
If oil prices remain low, and Russia continues to try and back the Ruble without making huge concessions on Ukraine, they are not going to last long. They will run out of foreign reserves, and then the Russian national finance system as well as their economy will collapse. Along with it, the Russian state will probably face a huge risk of collapsing as well.

Naturally, the smartest thing Putin could do is to pull out of Ukraine, and tell the Russian government to do nothing and just let the Ruble depreciate. Yes, the Ruble will be hit hard, and Russia will face a harsh recession for a few years. But at least they can preserve their foreign reserves for things and situations that are really necessary, and a low Ruble along with assistance from RoW could help their non-oil-related export sector rebound.

Given Putin's nature and ego, however, I totally doubt he will go along with the above plan at this point. This tyrant values his face and ego more than a lot of other things.
Traum is online now   Reply With Quote
This post thanked by:
Old 01-05-2015, 09:36 AM   #80
Proud to be called a RS Regular!
 
NotRevSeen's Avatar
 
Join Date: Oct 2014
Location: Kits
Posts: 119
Thanked 224 Times in 52 Posts
TSX sheds 380 points as oil trades below $50 a barrel - Business - CBC News
NotRevSeen is offline   Reply With Quote
Old 01-05-2015, 10:11 AM   #81
Banned (ABWS)
 
Join Date: Sep 2013
Location: Vancouver
Posts: 2,452
Thanked 2,665 Times in 960 Posts
Hope that loonie drops like a rock!!!
multicartual is offline   Reply With Quote
Old 01-05-2015, 10:34 AM   #82
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Location: Off-Topic
Posts: 27,727
Thanked 7,281 Times in 2,573 Posts
Bitcoin sure took a nose dive with the rubel drop
__________________
Dank memes cant melt steel beams
Hondaracer is offline   Reply With Quote
Old 01-05-2015, 11:07 AM   #83
RS has made me the bitter person i am today!
 
meme405's Avatar
 
Join Date: Feb 2013
Location: Vancouver
Posts: 4,624
Thanked 7,175 Times in 2,176 Posts
Quote:
Originally Posted by multicartual View Post
Hope that loonie drops like a rock!!!
Are you perhaps making a foray into a field which exports...organic...matter to the US?
__________________

Barney Fucking Purple FX35
Brianna - 2008 FX35 - Build Thread
meme405 is offline   Reply With Quote
Old 01-05-2015, 11:09 AM   #84
Banned (ABWS)
 
Join Date: Sep 2013
Location: Vancouver
Posts: 2,452
Thanked 2,665 Times in 960 Posts
Quote:
Originally Posted by meme405 View Post
Are you perhaps making a foray into a field which exports...organic...matter to the US?

I would never get involved with anything illegal outside of big burnouts and backstreet hooning because my freedom is priceless
multicartual is offline   Reply With Quote
This post thanked by:
Old 01-06-2015, 03:04 PM   #85
OMGWTFBBQ is a common word I say everyday
 
Join Date: Apr 2006
Location: Tres Ciudades
Posts: 5,403
Thanked 3,689 Times in 1,526 Posts
holy shat...gas is 99.9 at the PoCo Costco...never thought i'd see the day gas dips under a dollar again.
6o4__boi is offline   Reply With Quote
This post thanked by:
Old 01-06-2015, 04:56 PM   #86
Willing to sell a family member for a few minutes on RS
 
hotjoint's Avatar
 
Join Date: Feb 2005
Location: Surrey
Posts: 12,667
Thanked 649 Times in 352 Posts
I don't follow the markets but can someone please school me on how the canadian dollar is tied into oil prices? It seems like with the price of oil dropping so is the canadian dollar. It doesn't work the other way around when the price of oil is high, the dollar stays the same, if I recall correctly.
hotjoint is offline   Reply With Quote
Old 01-06-2015, 05:04 PM   #87
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Location: Off-Topic
Posts: 27,727
Thanked 7,281 Times in 2,573 Posts
Quote:
Originally Posted by hotjoint View Post
I don't follow the markets but can someone please school me on how the canadian dollar is tied into oil prices? It seems like with the price of oil dropping so is the canadian dollar. It doesn't work the other way around when the price of oil is high, the dollar stays the same, if I recall correctly.
This time around it will likely be effected moreso.

Canada producing oil, canadian GDP increases, dollar rises accordingly.

BTW, filled up at 97.9 in aldergrove on the weekend.
__________________
Dank memes cant melt steel beams
Hondaracer is offline   Reply With Quote
Old 01-06-2015, 05:14 PM   #88
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Location: Off-Topic
Posts: 27,727
Thanked 7,281 Times in 2,573 Posts
edit double post
__________________
Dank memes cant melt steel beams
Hondaracer is offline   Reply With Quote
Old 01-06-2015, 07:39 PM   #89
WOAH! i think Vtec just kicked in!
 
Join Date: Oct 2005
Location: Vancouver
Posts: 1,673
Thanked 362 Times in 171 Posts
Quote:
Originally Posted by hotjoint View Post
I don't follow the markets but can someone please school me on how the canadian dollar is tied into oil prices? It seems like with the price of oil dropping so is the canadian dollar. It doesn't work the other way around when the price of oil is high, the dollar stays the same, if I recall correctly.
Terence Corcoran: The end of Canada’s oil superpower pipe dreams


Terence Corcoran | January 6, 2015 | Last Updated: Jan 6 9:39 PM ET
More from Terence Corcoran | @terencecorcoran

AP Photo/Pablo Martinez Monsivais, FileWhen even a Republican-dominated Senate can’t muster enough support to force the Barack Obama’s hand, it’s a sure sign that activist opponents of Keystone dominate the pipeline decision-making process.


The Washington dust has not yet settled around Canada’s Keystone XL pipeline, but the fuzzy images visible Tuesday through the political storm do not look promising. Nothing in the current play of politics and oil prices would lead to the conclusion that Keystone will ever get approved.

But it’s worse than that for Canada. As the world oil market swirls, not just Keystone is at stake. The greater risk is that the great national global energy superpower dream is going down the drain, washed away by a confluence of forces over which Canada has no control.

On Tuesday, the White House said President Barack Obama would veto the latest Republican effort to push a Senate Keystone bill through Congress. It was an easy decision for the President to announce, since it appears the Senate failed to come up with the necessary 67 votes to override Mr. Obama’s veto.

When even a Republican-dominated Senate can’t muster enough support to force the President’s hand, it’s a sure sign that environmentalists and other activist opponents of Keystone still dominate the pipeline decision-making process.

While Canada’s dreams of exporting more oil sands production to the United States face a grim political environment, the economic environment looks even shakier. The price of West Texas crude dropped to $47.65 during trading Tuesday, and there was no reason to believe the oil price crash is near an end. At that price, Canada’s big pipeline plans could turn to pipe dreams.

The plunge in price of oil is more than just a surprise. This is what in official economic jargon is called an economic shock. Mostly, it seems to be a supply shock — brought on in part by the surge in U.S. shale production that in turn was created by technological change that is now sweeping the world.

Back in 2011, then Natural Resources Minister Joe Oliver told Washington that if Keystone were not approved, Canada had other options to “sell the oil elsewhere.” Oil industry officials blasted America with bravado: “OK pipe or lose our oil.”

Maybe that sounded tough in November, 2011, but since then the United States has emerged as the world’s fasted growing oil producer and the world’s largest oil producer.


When Mr. Oliver made his veiled threat to sell Canadian oil elsewhere, American oil production languished at 6,000,000 barrels a day, not far off its modern-day low. Then came the American shale oil revolution (See graph). In October, 2014, U.S. oil production hit 9,000,000 barrels a day, an increase of 50% over three years and one of the major causes of the current oil price cash. The U.S. oil output boom has also blown a big hole in peak oil theory, which has long dined out on the idea that the United States was a model for the theory on the grounds that U.S. oil output had “peaked” in the 1970s. That peak may soon be surpassed.

And so now, instead of Canada selling oil elsewhere, the United States is selling its oil elsewhere. The day before New Year’s Eve, the Obama administration lifted a 40-year-old ban on oil exports that had been imposed as part of Middle East oil embargoes during the 1970s.

There’s more to the world oil price shock than U.S. shale production, and geopolitical forces — in Russia, the Middle East, China, OPEC — could shift to reverse the price trend. Some say the shale revolution will run out of steam and the price of oil will soon shoot back up. Maybe, but in the meantime Canada’s energy ambitions are in a dangerous losing position.

The promoted alternatives to Keystone, Northern Gateway to the West Coast and the much-touted Energy East line through to Quebec and New Brunswick, are almost certainly uneconomical if the price of oil were to hang in at below $50 for any extended period of time. Could Canada’s big oil sands stash become locked up in Alberta for decades? Oil prices and new technologies — not to mention new native environmental attitudes — would have to undergo dramatic change in future before the prospects for Canadian oil exports improve.

As for Keystone, the U.S. shale revolution plays right into President Obama’s new energy nationalism, even protectionism. “We don’t need your stinking Canadian oil” is close to what the President’s Keystone message has been for the past year. As he put it in November, “This is Canadian oil, this isn’t U.S. oil.” What next from Mr. Obama? These are Canadian-made automobiles, not U.S.-made automobiles?

Similar protectionist language has dominated his Keystone comments on many occasions. His administration, he says, is committed to “American-made energy that creates jobs.” Under his administration, he says, “domestic oil and gas production is up, while imports of foreign oil are down,” comments directed at Keystone. This is classic mercantilism, the national push for exports and against imports.

The Obama administration has had six years to approve Canada’s Keystone pipeline. Nothing Mr. Obama has said over that time suggests he has any interest in changing his mind. With the surge in U.S. oil production and the new oil price level providing a boost for the U.S. dollar and U.S. consumers, he can see a resurgence of the United States as a superpower. For Canada’s plans to become one, that’s bad news.
Carl Johnson is offline   Reply With Quote
Old 01-06-2015, 07:42 PM   #90
WOAH! i think Vtec just kicked in!
 
Join Date: Oct 2005
Location: Vancouver
Posts: 1,673
Thanked 362 Times in 171 Posts
It is not just keystone of course. The prospect for B.C. to be a major exporter of LNG is going to be a pipe-dream as well if price stay at current level for a year or two.
Carl Johnson is offline   Reply With Quote
Old 01-06-2015, 10:08 PM   #91
RS has made me the bitter person i am today!
 
meme405's Avatar
 
Join Date: Feb 2013
Location: Vancouver
Posts: 4,624
Thanked 7,175 Times in 2,176 Posts
Quote:
Originally Posted by Carl Johnson View Post
It is not just keystone of course. The prospect for B.C. to be a major exporter of LNG is going to be a pipe-dream as well if price stay at current level for a year or two.
Well there are some out there hedging their bets that LNG is going to quickly come to represent 20-30 percent of BC's GDP.

Steel Head LNG alone represents a gross capital expenditure of over 30 billion dollars before it ever even fires up for the first time.

In fact 4 of the 5 biggest projects outlined in BC's major projects index are LNG.

For the lazy here is a screen capture:

__________________

Barney Fucking Purple FX35
Brianna - 2008 FX35 - Build Thread
meme405 is offline   Reply With Quote
This post thanked by:
Old 01-06-2015, 11:02 PM   #92
Orgasm Donor & Alatar owned my ass twice!
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 16,337
Thanked 5,611 Times in 2,300 Posts
gas worked out to be 63 cents/L at blaine WA couple days ago (dipped below $2USD/gal)
not sure if I should be scared or happy
__________________
My BST Feedback
twitchyzero is offline   Reply With Quote
This post thanked by:
Old 01-06-2015, 11:17 PM   #93
Cant Stop Modding Fat Cars w/ Cheap Pasts!
 
StylinRed's Avatar
 
Join Date: Oct 2002
Location: CELICAland
Posts: 23,045
Thanked 9,234 Times in 3,293 Posts
it's $0.60+ cents in Edmonton too
StylinRed is offline   Reply With Quote
Old 01-06-2015, 11:20 PM   #94
I wish I was where I was when I wished I was here
 
hchang's Avatar
 
Join Date: Feb 2010
Location: West Coast
Posts: 4,772
Thanked 2,952 Times in 682 Posts
1.18 USD to 1.00 CDN today...
__________________
--------------------------

2014 Dodge RAM Sport (Current)
hchang is offline   Reply With Quote
This post thanked by:
Old 01-06-2015, 11:55 PM   #95
RS.net, where our google ads make absolutely no sense!
 
Join Date: Nov 2001
Location: Tokyo/Vancouver
Posts: 956
Thanked 80 Times in 44 Posts
my guess, no fact, just opinion is

With the saudi/us effort to drive down oil prices is more to hurt the russian economy. the russian's being militant and aggressive the past year and a bit with a strong economy, whats the best way to tone that aggression down indirectly hurt their economy.

anyways from a canadian perspective, everything the gov't both federal and provincial is banking on is high oil prices, so all their budgets will not be balanced for the next little while. Coupled with a big no to the pipeline by Obama, expect the cdn dollar to sit around the 0.76-0.84 zone for sometime.

the low exchange has given the boc room to raise interest rates now though, which would push up the dollar a bit. i'd say 0.5 to 0.75 is possible in this year.

so low oil prices is a good and bad thing.
good for businesses that export,
good for reducing daily costs for people
bad for variable mortgages,
bad for holidays and shopping in the usa,
bad for imports,
and bad for the oil industry which in turn is bad for alberta and potentially BC for LNG
__________________
2015 Compass Card
ncrx is offline   Reply With Quote
This post thanked by:
Old 01-07-2015, 08:48 AM   #96
WOAH! i think Vtec just kicked in!
 
Join Date: Oct 2005
Location: Vancouver
Posts: 1,673
Thanked 362 Times in 171 Posts
Quote:
Originally Posted by meme405 View Post
Well there are some out there hedging their bets that LNG is going to quickly come to represent 20-30 percent of BC's GDP.

Steel Head LNG alone represents a gross capital expenditure of over 30 billion dollars before it ever even fires up for the first time.

In fact 4 of the 5 biggest projects outlined in BC's major projects index are LNG.

For the lazy here is a screen capture:

counting your eggs before they hatch? as far as i know, no major oil companies have announced any final investment decision yet. Both Petronas and BG Group have postponed their investment, and that was when oil was in the 70-80 range. the proponents of the LNG will throw around gargantuan numbers like 30 billion or 50 billion when in fact no companies have made their final decision to proceed with these costly projects.

it is ludicrous so say this virtually non-existent industry will represent almost 1/4 of this provinces' GDP. i am not even going to argue with you how dangerous and reckless this situation is if it becomes reality (i don't believe so). however there are so many unforeseeable variables that could happen like the oil collapse, it appears the bulls are just blinded for all the positives while ignoring the fundamentals. notwithstanding the economic challenges facing the nascent BC LNG industry, there is also growing challenges from U.S. on this front as well, just take a look at Oregon.
Carl Johnson is offline   Reply With Quote
This post thanked by:
This post FAILED by:
Old 01-07-2015, 09:09 AM   #97
I Will not Admit my Addiction to RS
 
Join Date: Nov 2006
Location: Vancouver
Posts: 556
Thanked 41 Times in 24 Posts
Quote:
Originally Posted by Traum View Post
If oil prices remain low, and Russia continues to try and back the Ruble without making huge concessions on Ukraine, they are not going to last long. They will run out of foreign reserves, and then the Russian national finance system as well as their economy will collapse. Along with it, the Russian state will probably face a huge risk of collapsing as well.

Naturally, the smartest thing Putin could do is to pull out of Ukraine, and tell the Russian government to do nothing and just let the Ruble depreciate. Yes, the Ruble will be hit hard, and Russia will face a harsh recession for a few years. But at least they can preserve their foreign reserves for things and situations that are really necessary, and a low Ruble along with assistance from RoW could help their non-oil-related export sector rebound.

Given Putin's nature and ego, however, I totally doubt he will go along with the above plan at this point. This tyrant values his face and ego more than a lot of other things.
I just began learning how forex works but correct me if I am wrong. If ruble is keep depreciating, shouldn't the Russian Government use even more foreign reserve to import the same amount of goods ??
__________________
 
 
My Buyer / Seller Rating
http://www.revscene.net/forums/60152...o-6-0-0-a.html
Y2K_o__o is offline   Reply With Quote
Old 01-07-2015, 10:32 AM   #98
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Location: Off-Topic
Posts: 27,727
Thanked 7,281 Times in 2,573 Posts
Live in BC, own a property, never go to the states.

Dollar up, dollar down, it's allllll the sameeee
__________________
Dank memes cant melt steel beams
Hondaracer is offline   Reply With Quote
Old 01-07-2015, 10:39 AM   #99
RS has made me the bitter person i am today!
 
meme405's Avatar
 
Join Date: Feb 2013
Location: Vancouver
Posts: 4,624
Thanked 7,175 Times in 2,176 Posts
Quote:
Originally Posted by Carl Johnson View Post
counting your eggs before they hatch? as far as i know, no major oil companies have announced any final investment decision yet. Both Petronas and BG Group have postponed their investment, and that was when oil was in the 70-80 range. the proponents of the LNG will throw around gargantuan numbers like 30 billion or 50 billion when in fact no companies have made their final decision to proceed with these costly projects.

it is ludicrous so say this virtually non-existent industry will represent almost 1/4 of this provinces' GDP. i am not even going to argue with you how dangerous and reckless this situation is if it becomes reality (i don't believe so). however there are so many unforeseeable variables that could happen like the oil collapse, it appears the bulls are just blinded for all the positives while ignoring the fundamentals. notwithstanding the economic challenges facing the nascent BC LNG industry, there is also growing challenges from U.S. on this front as well, just take a look at Oregon.
I'm not counting any eggs you clown.

Calm your tits. It's a good thing that I didn't say shit about believing in the LNG hype, but our government has bought into it. So you're only arguing with yourself.

And although LNG hasn't yet taken off here. It is quickly burgeoning in other countries. There is a demand for the product, it's all about who can fill that need at the lowest price, while still turning a profit. The environmentalists here make it almost impossible for us to do this on the cheap (not complaining but it's a fact).
__________________

Barney Fucking Purple FX35
Brianna - 2008 FX35 - Build Thread
meme405 is offline   Reply With Quote
Old 01-07-2015, 01:12 PM   #100
WOAH! i think Vtec just kicked in!
 
Join Date: Oct 2005
Location: Vancouver
Posts: 1,673
Thanked 362 Times in 171 Posts
Quote:
Originally Posted by meme405 View Post
I'm not counting any eggs you clown.

Calm your tits. It's a good thing that I didn't say shit about believing in the LNG hype, but our government has bought into it. So you're only arguing with yourself.

And although LNG hasn't yet taken off here. It is quickly burgeoning in other countries. There is a demand for the product, it's all about who can fill that need at the lowest price, while still turning a profit. The environmentalists here make it almost impossible for us to do this on the cheap (not complaining but it's a fact).
Nothing like a good old price war paving the way to a successful business venture. *sarcasm off*
Carl Johnson is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 03:25 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net